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The Council then proceeded to consider and discuss the proposals, after which member
<br />introduced the following resolution and moved its adoption:
<br />RESOLUTION NO. _
<br />RESOLUTION PROVIDING FOR THE ISSUANCEAND SALE OF $1,760,000 GENERAL
<br />OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2004A AND PLEDGING
<br />FOR THE SECURITY THEREOF SPECIAL ASSESSMENTS AND AD VALOREM TAXES
<br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City")
<br />hereby determines and declares that it is necessary and expedient to provide moneys for a current
<br />refunding of the City's $2,750,000 original principal amount of General Obligation Improvement
<br />Bonds, Series 23, dated March 21, 1997 (the "Prior Bonds") which mature on and after March 1,
<br />2005; and
<br />B. WHEREAS, $1,715,000 aggregate principal amount of the Prior Bonds which
<br />mature on and after March 1,2005, are callable on June 1, 2004, and any date thereafter (the
<br />"Refunded Bonds"), at a price of par plus accrued interest, as provided in Resolution No. 9391,
<br />duly adopted by the City Council on March 10, 1997, authorizing the issuance of the Prior Bonds
<br />(the "Prior Resolution") and the refunding of the Refunded Bonds is consistent with covenants
<br />made with the holders thereof, and is necessary and desirable for the reduction of debt service
<br />cost to the City; and
<br />C. WHEREAS, the City Council hereby determines and declares that it is necessary
<br />and expedient to issue $1,760,000 General Obligation ImprovementRefunding Bonds, Series
<br />2004A, pursuant to Minnesota Statutes, Chapter 475, to provide moneys for a current refunding
<br />of the Refunded Bonds; and
<br />D. WHEREAS, it is in the best interests of the City that the Bonds be issued in book-
<br />entry form as hereinafter provided.
<br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville,
<br />Minnesota, as follows:
<br />1. Acce�tance of Offer. The proposal of
<br />(the "Purchaser"), to purchase the Bonds in accordance with the Terms of Proposal, at the rates
<br />of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest
<br />accrued to settlement, is hereby found, determined and declared to be the most favorable
<br />proposal received and is hereby accepted, and the Bonds are hereby awarded to the Purchaser.
<br />The Finance Director is directed to retain the deposit of the Purchaser and to forthwith return to
<br />the unsuccessfulbidders their good faith checks or drafts.
<br />2. Terms of Bonds.
<br />�a� Title: Original Issue Date: Denominations: Maturities: and Term Bond Ovtion.
<br />The Bonds shall be titled "General Obligation Improvement Refunding Bonds, Series 2004A",
<br />shall be dated March 1,2004, as the date of original issue and shall be issued forthwith on or
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